Educational Attainment and Other Characteristics of the Self-Employed

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It was once assumed that college graduates would go to work for a Fortune 500 firm and that is often true; what is also true is that more students see entrepreneurship as a viable option for their careers. This study examines the relationship between education and the choice to become an entrepreneur, building on previous research and using the Panel Study of Income Dynamics (PSID) to analyze the characteristics of the self-employed compared with individuals employed by others. The study finds that educational attainment is an important determinant of self-employment: individuals with more schooling are more likely to start their own business, particularly in certain industries.

A full copy of this report is available here (PDF), and the research summary can be found here (PDF).

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